Solar Tracker Market: Global Industry Outlook, Size (US$ 16.7 Billion), Share, Growth (CAGR of 21.1%), Top Companies Analysis and Research Report 2023-2028

The latest report published by IMARC Group, titled "Solar Tracker Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global solar tracker market size reached US$ 5.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 16.7 Billion by 2028, exhibiting a growth rate (CAGR) of 21.1% during 2023-2028.

Year Considered to Estimate the Market Size:

• Base Year of the Analysis: 2022

• Historical Period: 2017-2022

• Forecast Period: 2023-2028

Solar Tracker Market Trends:

The increasing demand for clean energy represents one of the key factors driving the market toward growth. Apart from this, the rising consciousness over energy conservation is anticipated to increase the demand for solar energy, thus, in turn, contributing to the market growth of solar trackers. Moreover, governments of various countries are offering support and subsidies for solar energy projects, which is acting as another major growth-inducing factor. Furthermore, the growing deployment of solar power as a potential source of commercial energy generation has increased in popularity owing to the decreasing solar PV panel cost, which is projected to boost market growth. Other factors, such as significant technological advancements and extensive research and development (R&D) activities, are creating a positive outlook for the market further across the globe.

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/solar-tracker-market/requestsample

Solar Tracker Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the solar tracker market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Arctech Solar Holding Co. Ltd.
• Array Technologies Inc.
• Convert Italia SpA (Valmont Industries Inc.)
• DEGER energie GmbH & Co KG
• First Solar Inc.
• Nextracker Inc. (Flex Ltd.)
• Powerway Renewable Energy Co. (SinoTech Power Group)
• Soltec Energias Renovables S.L.
• Sunpower Corporation (Total S.A.)

Key Market Segmentation:

The report has segmented the global solar tracker market based on type, tracking type, technology, application and region.

Breakup by Type:

• Active Solar Tracker
• Passive Solar Tracker

Breakup by Tracking Type:

• Single Axis Tracking:
o HSAT (Horizontal Single Axis Trackers)
o VSAT (Vertical Single Axis Trackers)
o TSAT (Titled Single Axis Trackers)
o PSAT (Polar Aligned Single Axis Trackers)

• Dual Axis Tracking:
o TTDAT (Tip-Tilt Dual Axis Trackers)
o AADAT (Azimuth-Altitude Dual Axis Trackers)

Breakup by Technology:

• Solar Photovoltaic (PV)
• Concentrated Solar Power (CSP)
• Concentrated Photovoltaic (CPV)

Breakup by Application:

• Utility Sector
• Residential Sector
• Commercial Sector

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=2401&flag=C

Industry Definition and Application:

A solar tracker refers to a device that track the movement of the sun and adjust the position of solar panels or mirrors to maximize their exposure to sunlight. Solar trackers increase the energy output of a solar power system by up to 25% by enabling solar panels to follow the sun's trajectory in the sky, thus optimizing the angle of incidence and therefore the amount of solar energy captured.

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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This release was published on openPR.